Semiconductor technology startup wins 2022 Rice Business Plan Competition | Rice News | News and Media Relations

HOUSTON – (April 11, 2022) – LIDROTEC, a student startup from RWTH Aachen University in Germany aiming to increase production in the semiconductor industry, took home the grand prize at 2022 Rice Business Plan Contest (RBPC).

LIDROTECH founder

Amid the global semiconductor shortages, LIDROTEC says its technology can eliminate material waste in the cutting process during manufacturing, both saving money and increasing productivity.

The RBPC, held annually by the Rice Alliance for Technology and Entrepreneurship and Rice University Jones Graduate School of Business, is the world’s largest and richest student startup competition. At this year’s edition, 42 startups competed for more than $2 million in prizes.

The winners were announced at the end of the three-day pitching, mentoring and networking event, which included an elevator pitch competition, practice round, semi-finals, wild card and final round. Compelling innovations showcased by this year’s teams prompted sponsors to add a series of last-minute cash prizes.

The 42 startups represented 34 universities from four countries, with 11 universities being represented by two different teams. They were selected from more than 400 applicants to compete in one of five categories: Energy, Clean Technologies and Sustainability; life sciences and healthcare solutions; consumer goods and services; hard tech; and digital company.

The RBPC’s 250+ judges act as – and most are – early-stage investors who evaluate the potential of the startups. Teams introduce their companies to investors, entrepreneurs, executives and other companies ecosystem partners Network during the event and receive real-time feedback, advice and mentoring.

Notable awards this year and the teams that won them are:

* $350,000 GOOSE Capital Investment Grand Prize — LIDROTEC, RWTH Aachen University.

* $155,000 The OWL Investment Prize – Hoth Intelligence, University of Pittsburgh.

*$65,000 OWL Investment Award – Mallard Bay Outdoors, Louisiana State University.

* $50,000 OWL Investment Prize – TransCrypts, University of Toronto and Harvard University.

* $250,000 TMC Innovation Healthcare Investment Prize – LymphaSense, Johns Hopkins University.

* Softeq Venture Studio Prizes of $125,000 (two prizes) – Mallard Bay Outdoors, Louisiana State University; LIDROTEC, RWTH Aachen University.

* $100,000 Jon Finger and Finger Interests, David Anderson and the Anderson Family Fund, Greg Novak and Tracy Druce Second Place Investment Prize – Hoth Intelligence, University of Pittsburgh.

* $50,000 Jon Finger and Finger Interests, David Anderson and the Anderson Family Fund, Greg Novak and Tracy Druce Third Place Investment Prize – Invitris, Technical University of Munich.

* $100,000 Houston Angel Network Investment Award – Hoth Intelligence, University of Pittsburgh.

* $100,000 TiE Houston Angel Group Investment Award – LIDROTEC, RWTH Aachen University.

* $50,000 RBPC Alumnus, Thomas Healy, Investment Award – LIDROTEC, RWTH Aachen University.

* $25,000 RBPC Alumnus, Thomas Healy, Investment Award – Mallard Bay Outdoors, Louisiana State University.

* $10,000 RBPC Alumnus, Thomas Healy, Investment Award – Bold Move Beverages, University of Texas at Austin.

* $40,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize – Invitris, Technical University of Munich.

* $10,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize – Pareto, Stanford University.

* $25,000 Southwest National Pediatric Device Prizes (two prizes) – Advanced Optronics, Carnegie Mellon University; EpiSLS, University of Michigan.

* $25,000 Urban Capital Network Investment Prize – Woobie, Brigham Young University.

* $25,000 IN2 Energy, Cleantech and Sustainability Award – EpiFresh, Rice University.

* $25,000 Pearland Economic Development Corporation Spirit of Entrepreneurship Prize – Hoth Intelligence, University of Pittsburgh.

* $25,000 New Climate Ventures Investment Prize – Mantel, Massachusetts Institute of Technology.

*$20,000 OFW Law FDA Regulatory Strategy Non-cash Prize – Advanced Optronics, Carnegie Mellon University.

* $5,000 Eagle Investors Prize — LIDROTEC, RWTH Aachen University.

* $3,000 Nixon Institute Award – LymphaSense, Johns Hopkins University.

* $3,000 DK Innovation Energy Prize – Mantel, Massachusetts Institute of Technology.

* $1,000 Mercury Elevator Pitch Competition Prize – EpiFresh, Rice University

The seven finalists, based on total judges’ scores, were:

LIDROTEC, RWTH Aachen University — Grand prize and individual prizes totaling $682,200.

Hoth Intelligence, University of Pittsburgh – Second place and $386,700 in total prizes.

Hoth Intelligence’s software uses augmented reality to allow healthcare providers to see “through” and “in” patients to guide procedures and reduce errors.

Invitris, Technical University of Munich – 3rd place and $97,200 in prizes total.

Invitris uses synthetic biology to develop novel therapeutics to treat antibiotic-resistant bacterial infections.

LymphaSense, Johns Hopkins University – Fourth place and prizes valued at $258,000 including Norton Rose Fulbright’s fourth place cash prize of $5,000.

LymphaSense’s handheld screening device is revolutionizing the way breast cancer patients are monitored for signs of lymphedema post-treatment.

INIA Life Sciences, Boston University – fifth place and fifth EY cash prize of $5,000.

INIA Biosciences is developing a non-invasive, home-use bioelectronic device for treatment after kidney transplantation.

Bold Move Beverages, University of Texas at Austin – Sixth Place and $15,000 in prizes, including a $5,000 cash prize for sixth place from Chevron Technology Ventures.

Bold Move Beverages is an early-stage alcohol brand that combines coffee and whiskey to create Cold Brooze in two flavors.

Anise Health, Harvard University – Seventh Place and the $7,000 Shell Ventures Seventh Place Cash Prize and the Edward H. Molter Memorial Wildcard Prize from Egan Nelson.

Anise Health is a digital platform providing culturally appropriate mental health care to racial and ethnic minorities, beginning with Asian Americans.

All participants also received:

  • Entrepreneur Futures Network (EFN) Mentoring: EFN mentors provided each team with mentoring and advice prior to the competition on topics such as refining a business plan, refining financial models, and improving presentation skills.
  • Amazon Web Services: Service credits for each of the 42 startup teams for two years.
  • Palo Alto Software: Access to Live Plan presentation and analysis software
  • Allianse: 3-month trial for investors and capital platform

For more information on the Rice Business Plan Competition 2022, visit rbpc.rice.edu.

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